Identify each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form ofbusiness organization.1. Separate legal entity2.Taxable entity resulting in additional taxes3.Continuous life4.Unlimited liability of owners5.Government regulation6. Separation of ownership and management7.Ability to acquire capital8.Ease of transfer of ownership

Separate legal entity (Advantage): One of the key advantages of the corporate structure is that it…

Answered: Identify each of the following…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 1BCRQ

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Similar questions

Distinguish between corporations and sole proprietorshipsin terms of the following characteristics:a. Owners’ liability for debts of the business.b. Transferability of ownership interest.c. Continuity of existence.d. Federal taxation on income.
3. Which of the following would be considered an advantage of the sole proprietorship form of organization? unlimited liability wide access to capital markets profits taxed at only one level a pool of expertise
Which of the following is not a characteristic of a corporation? a.Corporations experience an ease in obtaining large amounts of resources by issuing stock. b.Corporations are organized as a separate legal taxable entity. c.Ownership is divided into shares of stock. d.A corporation's resources are limited to its individual owners' resources.
please answer correct in detail Identify each of the following characteristics as being an advantage or a disadvantage of the corporate form of business or not applicable to the corporate form of business organization. 1. Seperate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life
The economic entity assumption requires that the activities Select one: a. of a sole proprietorship cannot be distinguished from the personal economic events of its owners. b.of an entity be kept separate from the activities of its owner. c. of different entities can be combined if all the entities are corporations. d.must be reported to the Securities and Exchange Commission.
Which of the following is not a characteristic of a corporation? a.Corporations experience an ease in obtaining large amounts of resources by issuing stock. b.A corporation's resources are limited to its individual owners' resources. c.Ownership is divided into shares of stock. d.Corporations are organized as a separate legal taxable entity.
QUESTION 10 Which of the following is an organizational disadvantage of a corporation? A. Taxable entity B. Separate legal entity C. Relative ease of ownership transfer D. Limited liability of owners
Next to each corporate characteristic 1 through 8, enter the letter of the description that best relates to it. 1. Owner authority and control 2. Ease of formation 3. Transferability of ownership 4. Ability to raise large capital amounts 5. Duration of life 6. Owner liability 7. Legal status 8. Tax status of income a. Requires government approval b. Corporate income is taxed c. Separate legal entity d. Readily transferred e. One vote per share f. High ability g. Unlimited h. Limited
Which of the following characteristics best describes a corporation? a. A business with a single owner b. Is not taxed c. Stockholders not personally liable for entity’s debts d. Not a separate taxable entity
Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own property
Which characteristic of a corporation is a disadvantage? a. Mutual agency b. Double taxation c. Limited liability d. None are disadvantages.
Which of the following is not considered to be an advantage of a corporation?a. Limited liability of stockholders for the corporation’s debtsb. Continuous lifec. Double taxationd. Ability to raise more capital than a partnership or proprietorship

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